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ANZ on target for eight percent growth

ANZ on target for eight percent growth

(Australia) The ANZ has stated it expects to deliver eight percent earnings per share growth in FY 2003 and 2004. The bank acknowledged a tough domestic market led to this figure dropping from previous double-digit levels, a situation that has made it look offshore for growth.

As well as its role in speculation about the sale of the National Bank of New Zealand (see previous story), the ANZ is expected to take a major stake in the state-run Thai Military Bank.

The Thai Military Bank is looking to raise 20 – 30 billion baht (US$480-$720 million) through arrangements with new strategic partners and is hoping the deal will be completed by the end of June.

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